FS Tlkm 310313 Eng
Perusahaan Perseroan (Persero)
PT Telekomunikasi Indonesia Tbk
and Subsidiaries
Consolidated financial statements
as of March 31, 2013 (unaudited)
and for three months period ended with comparative
figures as of December 31, 2012 (audited) and
for three months period
ended March 31, 2012 (unaudited)
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED WITH
COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED)
AND FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
TABLE OF CONTENTS
Page
Consolidated Statements of Financial Position ……..…………………………………………………
1-2
Consolidated Statements of Comprehensive Income…………………………………………………
3
Consolidated Statements of Changes in Equity………………………….………………..…………..
4-5
Consolidated Statements of Cash Flows……………………………………………………………….
6
Notes to the Consolidated Financial Statements……………………………………………..………..
7-117
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
AS OF DECEMBER 31, 2012 (AUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
March 31,
2013
December 31,
2012
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Trade receivables - net of provision for
impairment of receivables
Related parties
Third parties
Other receivables - net of provision for
impairment of receivables
Inventories - net of provision for
obsolescence
Advances and prepaid expenses
Claims for tax refund
Prepaid taxes
Asset held for sale
2c,2e,2u,3,37,44
2c,2e,2u,4,37,44
2g,2u,5,29,44
2c,37
2g,2u,44
2h,6,16,20,29
2c,2i,7,37
2t,31
2t,31
2j,8
Total Current Assets
NON-CURRENT ASSETS
Long-term investments
Property and equipment - net of
accumulated depreciation
Prepaid pension benefit costs
Advances and other non-current
assets
Intangible assets - net of
accumulated amortization
Deferred tax assets - net
Total Non-current Assets
TOTAL ASSETS
20,112
951
13,118
4,338
663
5,216
701
4,522
234
186
703
3,583
438
327
130
579
3,721
436
372
-
32,357
27,973
2f,2u,9,44
2l,2m,10
16,19,20,39
2s,34
2c,2i,2l,2n,2u
11,37,41,44
272
275
77,050
1,007
77,047
1,032
3,922
3,510
2d,2k,2n,12
2t,31
1,383
113
1,443
89
83,747
83,396
116,104
111,369
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements
taken as a whole.
31
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
AS OF DECEMBER 31, 2012 (AUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
March 31,
2013
December 31,
2012
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade payables
Related parties
Third parties
Other payables
Taxes payables
Accrued expenses
Unearned income
Advances from customers and suppliers
Short-term bank loans
Current maturities of long-term liabilities
Total Current Liabilities
2o,2r,2u,13,44
2c,37
636
6,493
429
2,135
5,829
2,940
275
154
5,268
24,159
432
6,848
176
1,844
6,163
2,729
257
37
5,621
24,107
2t,31
2r
2s,35
2c,2s,36,37
3,099
313
351
682
3,059
334
347
679
2c,2s,34,37
2u,17,44
2m,10
2c,2p,18,37
2c,2p,19,37
2c,2p,20,37
2,382
2,248
1,967
1,698
3,202
6,284
1,814
1,791
3,229
6,783
19,978
44,137
20,284
44,391
5,040
1,073
(8,067)
5,040
1,073
(8,067)
2u,44
2t,31
2c,2r,2u,14,27,34,37,44
2r,15
2c,37
2c,2p,2u,16,37,44
2c,2m,2p,2u,17,37,44
NON-CURRENT LIABILITIES
Deferred tax liabilities - net
Other liabilities
Long service awards provisions
Post-retirement health care benefits provisions
Retirement benefits obligation and other post
retirement benefits
Long-term liabilities - net of current maturities
Obligations under finance leases
Two-step loans
Bonds and notes
Bank loans
Total Non-current Liabilities
TOTAL LIABILITIES
EQUITY
Capital stock - Rp250 par value per Series A
Dwiwarna share and Series B share
Authorized - 1 Series A Dwiwarna share and
79,999,999,999 Series B shares
Issued and fully paid - 1 Series A Dwiwarna
share and 20,159,999,279 Series B shares
Additional paid-in capital
Treasury stock
Difference in value arising from restructuring
transactions and other transactions between
entities under common control
Effect of change in equity of
associated companies
Unrealized holding gain from
available-for-sale securities
Translation adjustment
Difference due to acquisition of non-controlling
interest in subsidiaries
Other reserves
Retained earnings
Appropriated
Unappropriated
1c,22
2v,23
2v,24
2d,25
478
478
2f
386
386
2u
2f
53
274
42
271
1d,2d
1d
(508)
49
(508)
49
33
Total Equity Attributable to Owners of the Parent
Company
Non-controlling interests
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
2b,21
15,337
40,917
15,337
37,440
55,032
51,541
16,935
71,967
116,104
15,437
66,978
111,369
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements
taken as a whole.
23
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED) WITH
COMPARATIVE FIGURES FOR THREE MONTHS PERIOD ENDED
MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
REVENUES
Operations, maintenance and telecommunication
services expenses
Depreciation and amortization expenses
Personnel expenses
Interconnection expenses
Marketing expenses
General and administrative expenses
Gain on foreign exchange - net
Other income
Other expenses
2013
2012
2c,2r,26,37
19,547
17,796
2c,2r,28,37
2k,2l,2m,2r,10,11,12
2c,2r,2s,14,27,34,35,
36,37
2c,2r,30,37
2r
2c,2g,2h,2r,2t,5,6,
29,37
2q
2r,10c
2r,10c
(4,698)
(3,462)
(3,916)
(3,465)
(2,331)
(1,175)
(651)
(2,047)
(995)
(635)
(643)
91
129
(57)
(580)
16
180
(134)
OPERATING PROFIT
6,750
Finance income
Finance costs
Share of loss of associated companies
2c,37
2c,2r,37
2f,9
PROFIT BEFORE INCOME TAX
208
(324)
(3)
6,631
INCOME TAX (EXPENSE) BENEFIT
Current
Deferred
6,220
129
(278)
6,071
2t,31
PROFIT FOR THE YEAR
OTHER COMPREHENSIVE INCOME
Foreign currency translation
Change in fair value of available-for-sale financial assets
1d,2b,2f
2u
Total Other Comprehensive Income - net
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
Profit for the year attributable to:
Owners of the parent company
Non-controlling interests
2b,21
Total comprehensive income for the year attributable to:
Owners of the parent company
Non-controlling interests
2b,21
BASIC AND DILUTED EARNINGS PER SHARE (in full amount)
Net income per share
Net income per ADS (40 Series B shares per ADS)
(1,627)
(19)
(1,698)
186
(1,646)
(1,512)
4,985
4,559
3
11
2
3
14
5
4,999
4,564
3,477
1,508
3,322
1,237
4,985
4,559
3,491
1,508
3,327
1,237
4,999
4,564
181.58
7,263.20
172.20
6,888.00
2x,32
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements
taken as a whole.
3
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Attributable to owners of the parent company
Descriptions
Notes
Balance, December 31, 2012
Cash dividends
Comprehensive income
for the year
Balance, March 31, 2013
Additional
paid-in
capital
Capital
stock
5,040
1,073
2w,33
-
-
1d,2b,2f,
2q,2s,9
5,040
Difference
in value
arising from
restructuring
transactions
and other
transactions
between
entities under
common
control
Treasury
stock
(8,067 )
Unrealized
holding
gain on
availablefor-sale
securities
Effect of
change in
equity of
associated
companies
Difference
due to
acquisition of
noncontrolling
Retained earnings
interest in
Other
subsidiaries reserves Appropriated Unappropriated
Translation
adjustment
478
386
42
271
-
-
-
-
-
-
-
-
-
11
3
1,073
(8,067)
478
386
53
274
(508)
-
(508)
Total
15,437
Total
equity
49
15,337
37,440
51,541
-
-
-
-
-
-
3,477
3,491
1,508
4,999
49
15,337
40,917
55,032
16,935
71,967
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
4
Noncontrolling
interests
(10)
66,978
(10)
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (continued)
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Attributable to owners of the parent company
Descriptions
Additional
paid-in
capital
Capital
stock
Notes
Balance, December 31, 2011
5,040
1,073
Acquisition of non-controlling
interest in subsidiaries
1d,2d
-
-
Treasury stock acquired
- at cost
2v,24
-
-
Comprehensive income
for the year
1d, 2b,2f,
2q,2s,9
Balance, March 31, 2012
-
-
5,040
1,073
Difference
in value
arising from
restructuring
transactions
and other
transactions
between
entities under
common
control
Treasury
stock
(6,323)
-
(1,154)
(7,477)
Unrealized
holding
gain
availablefor-sale
securities
Effect of
change in
equity of
associated
companies
Difference
due to
acquisition of
noncontrolling
Retained earnings
interest in
subsidiaries Appropriated
Unappropriated
Translation
adjustment
478
386
47
240
-
-
-
-
-
-
-
-
-
-
3
2
478
386
50
242
(485)
Total
15,337
31,717
47,510
-
-
-
-
-
-
-
(485)
(1,154)
Total
equity
13,471
(4 )
-
60,981
(4)
(1,154)
-
3,322
3,327
1,237
4,564
15,337
35,039
49,683
14,704
64,387
The accompanying notes to the consolidated financial statements, form an integral part of these consolidated financial statements taken as a whole.
5
Noncontrolling
interests
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED)
WITH COMPARATIVE FIGURES FOR THREE MONTHS PERIOD ENDED
MARCH 31,2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
2013
2012
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from:
Customers
Other operators
18,042
876
16,328
804
Total cash receipts from revenues
Interest income received
Cash Arefunds to (advance from) customers
Cash payments for expenses
Cash payments to employees
Payments for income taxes
Payments for interest costs
18,918
205
1
(6,819)
(2,946)
(1,352)
(322)
17,132
127
41
(5,381)
(2,087)
(858)
(199)
7,685
8,775
3,654
12
(3,199)
(255)
(80)
(29)
(22)
(8)
2
17
(4,028)
(108)
167
(46)
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from time deposits and (purchase) of available-for-sale financial assets
Proceeds from insurance claims
Proceeds from sale of property and equipment
Acquisition of property and equipment
Placement in time deposits
Acquisition of intangible assets
(Increase) decrease in advances for purchases of property and equipment
Increase in advances and other non-current assets
10
10
10
4
12
11
11
Net cash provided by/(used in) investing activities
81
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank loans
Proceeds from short-term bank loans
Proceeds from promissory notes
Proceeds from medium-term notes
Payments for treasury stock
Repayment of two-step loans and bank loans
Repayments of obligation under finance leases
Repayments of promissory notes
Repayments of short-term bank loans
Cash dividends paid to non-controlling interests of subsidiaries
Repayments of medium-term notes
20
16
19
19
24
18,20
10
19
16
19
Net cash used in financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
(4,004)
710
147
8
(1,474)
(79)
(65)
(30)
(10)
(8)
40
79
101
10
(1,154)
(2,211)
(46)
(45)
(25)
(6)
(801)
(3,257)
6,965
1,514
29
15
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
3
13,118
9,634
CASH AND CASH EQUIVALENTS AT END OF YEAR
3
20,112
11,163
The accompanying notes to the consolidated financial statements, form an integral part of these consolidated financial statements
taken as a whole.
6
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL
a. Establishment and general information
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (the “Company”) was
originally part of “Post en Telegraafdienst”, which was established and operated commercially in
1884 under the framework of Decree No. 7 dated March 27, 1884 of the Governor General of the
Dutch Indies and was published in State Gazette No. 52 dated April 3, 1884.
In 1991, the status of the Company was changed into a state-owned limited liability corporation
(“Persero”) based on Government Regulation No. 25/1991. The ultimate parent of the Company
is the Government of the Republic of Indonesia (the “Government”) (Notes 1c and 22).
The Company was established based on notarial deed No. 128 dated September 24, 1991 of
Imas Fatimah, S.H.. The deed of establishment was approved by the Minister of Justice of the
Republic of Indonesia in his Decision Letter No. C2-6870.HT.01.01.Th.1991 dated
November 19, 1991, and was published in State Gazette No. 5 dated January 17, 1992,
Supplement No. 210. The Articles of Association have been amended several times,
the latest amendment of which was, among others, about the requirement that Directors’ action
must obtain written approval of the Board of Commissioners, based on notarial deed No. 30
dated June 7, 2012 of Ashoya Ratam, S.H., MKn. The changes were accepted and approved by
the Minister of Law and Human Rights of the Republic of Indonesia (“MoJHR”) through his Letter
No. AHU-AH.01.10-34558 dated September 24, 2012.
In accordance with Article 3 of the Company’s Articles of Association, the scope of its activities is
to provide telecommunication network and services, informatics and optimization of the
Company’s resources in accordance with prevailing regulations. To achieve this objective, the
Company is involved in the following activities:
a. Main business:
i.
ii.
Planning, building, providing, developing, operating, marketing or selling, leasing and
maintaining telecommunications and information networks in accordance with prevailing
regulations.
Planning, developing, providing, marketing or selling and improving telecommunications
and information services in accordance with prevailing regulations.
b. Supporting business:
i.
ii.
Providing payment transactions and money transferring services through
telecommunications and information networks.
Performing activities and other undertakings in connection with optimization of the
Company's resources, which among others include the utilization of the Company's
property and equipment and moving assets, information systems, education and training,
and repairs and maintenance facilities.
The Company’s head office is located at Jalan Japati No. 1, Bandung, West Java.
7
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
a. Establishment and general information (continued)
The Company was granted several telecommunications licenses which are valid for an unlimited
period of time as long as the Company complies with prevailing laws and telecommunications
regulations and fulfills the obligations stated in those permits. For every license, an evaluation is
performed annually and an overall evaluation is performed every 5 (five) years. The Company is
obliged to submit reports of services annually to the Indonesian Directorate General of Post and
Informatics (“DGPI”), which replaced the previous Indonesian Directorate General of Post and
Telecommunications (“DGPT”). The reports comprise information such as network development
progress, service quality standard achievement, total customer, license payment and universal
service contribution, while for internet telephone services for public purpose (“ITKP”), there is
additional information required such as operational performance, customer segmentation, traffic,
and gross revenue.
Details of these licenses are as follows:
License
Grant date/latest
renewal date
License No.
Type of services
License to operate
local fixed line and
basic telephone
services network
381/KEP/
M.KOMINFO/
10/2010
Local fixed line and
basic telephone
services network
October 28, 2010
License to operate
fixed domestic
long distance and
basic telephone
services network
382/KEP/
M.KOMINFO/
10/2010
Fixed domestic long
distance and basic
telephone services
network
October 28, 2010
License to operate
fixed international
and basic telephone
services network
383/KEP/
M.KOMINFO/
10/2010
Fixed international
and basic telephone
services network
October 28, 2010
License to operate
fixed closed
network
398/KEP/
M.KOMINFO/
11/2010
Fixed closed
network
November 12, 2010
License to operate
internet telephone
services for public
purpose
384/KEP/DJPT/
M.KOMINFO/
11/2010
ITKP
November 29, 2010
License to operate
as internet service
provider
83/KEP/DJPPI/
KOMINFO/
4/2011
Internet service
provider
April 7, 2011
License to operate
data communication
system services
169/KEP/DJPPI/
KOMINFO/
6/2011
Data communication
system services
June 6, 2011
331/KEP/
M.KOMINFO/
07/2011
Packet switched
based local fixed
line network
July 27, 2011
License to operate
packet switched
based local fixed
line network
8
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Company’s Board of Commissioners, Board of Directors, Audit Committee, Corporate
Secretary and employees
1. Boards of Commissioners and Directors
Based on resolutions made at (i) the Extraordinary General Meeting (“EGM”) of Stockholders
of the Company dated December 17, 2010 as covered by notarial deed No. 33 of Dr. A.
Partomuan Pohan, S.H., LLM., and (ii) the Annual General Meeting (“AGM”) of Stockholders
of the Company dated May 11, 2012 as covered by notarial deed No. 14 of Ashoya Ratam,
S.H., MKn., the composition of the Company’s Boards of Commissioners and Directors as of
March 31, 2013 and December 31, 2012, respectively, was as follows:
March 31, 2013
President Commissioner
Commissioner
Commissioner
Independent Commissioner
Independent Commissioner
President Director
Director of Finance
Director of Network and Solution
Director of Enterprise and
Wholesale
Director of Consumer
Director of Compliance and
Risk Management
Director of Information
Technology Solution &
Strategic Portfolio
Director of Human Capital
and General Affairs
December 31, 2012
Jusman Syafii Djamal
Parikesit Suprapto
Hadiyanto
Virano Gazi Nasution
Johnny Swandi Sjam
Arief Yahya
Honesti Basyir
Rizkan Chandra
Jusman Syafii Djamal
Parikesit Suprapto
Hadiyanto
Virano Gazi Nasution
Johnny Swandi Sjam
Arief Yahya
Honesti Basyir
Rizkan Chandra
Muhammad Awaluddin
Sukardi Silalahi
Muhammad Awaluddin
Sukardi Silalahi
Ririek Adriansyah
Ririek Adriansyah
Indra Utoyo
Indra Utoyo
Priyantono Rudito
Priyantono Rudito
2. Audit Committee and Corporate Secretary
The composition of the Company’s Audit Committee and Corporate Secretary as of March
31, 2013 and December 31, 2012, respectively, were as follows:
March 31, 2013
Chair
Secretary
Member
Member
Member
Member
Corporate Secretary
Johnny Swandi Sjam
Salam
Parikesit Suprapto
Agus Yulianto
Sahat Pardede
Virano Gazi Nasution
Agus Murdiyatno
9
December 31, 2012
Johnny Swandi Sjam
Salam
Parikesit Suprapto
Agus Yulianto
Sahat Pardede
Virano Gazi Nasution
Agus Murdiyatno
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Company’s Board of Commissioners, Boards of Directors, Audit Committee, Corporate
Secretary and employees (continued)
3. Employees
As of March 31, 2013 and December 31, 2012, the Company and subsidiaries had 25,095
employees and 25,683 employees (unaudited), respectively.
c. Public offering of securities of the Company
The Company’s shares prior to its Initial Public Offering (“IPO”) totalled 8,400,000,000, consisting
of 8,399,999,999 Series B shares and 1 Series A Dwiwarna share, and were 100%-owned by the
Government of the Republic of Indonesia (the “Government”). On November 14, 1995,
933,333,000 new Series B shares and 233,334,000 Series B shares owned by the Government
were offered to public through IPO and listed on the Indonesia Stock Exchange (“IDX”)
(previously the Jakarta Stock Exchange and the Surabaya Stock Exchange) and
700,000,000 Series B shares owned by the Government were offered to the public and listed on
the New York Stock Exchange (“NYSE”) and the London Stock Exchange (“LSE”), in the form of
American Depositary Shares (“ADS”). There are 35,000,000 ADS and each ADS represents
20 Series B shares at that time.
In December 1996, the Government had a block sale of its 388,000,000 Series B shares, and
in 1997, had distributed 2,670,300 Series B shares as incentive to the Company’s stockholders
who did not sell their shares within one year from the date of the IPO. In May 1999,
the Government further sold 898,000,000 Series B shares.
To comply with Law No. 1/1995 on Limited Liability Companies, at the the Annual General
Meeting (“AGM”) of Stockholders of the Company on April 16, 1999, the Company’s stockholders
resolved to increase the Company’s issued share capital by distribution of 746,666,640 bonus
shares through the capitalization of certain additional paid-in capital, which were distributed to the
Company’s stockholders in August 1999. On August 16, 2007, Law No. 1/1995 on Limited
Liability Companies was amended by the issuance of Law No. 40/2007 on Limited Liability
Companies which became effective at the same date. Law No. 40/2007 has no effect on the
public offering of shares of the Company. The Company has complied with Law No. 40/2007.
In December 2001, the Government had another block sale of 1,200,000,000 shares or
11.9% of the total outstanding Series B shares. In July 2002, the Government sold a further
312,000,000 shares or 3.1% of the total outstanding Series B shares.
At the AGM of Stockholders of the Company held on July 30, 2004, the minutes of which are
covered by notarial deed No. 26 of A. Partomuan Pohan, S.H., LLM., the Company’s
stockholders approved the Company’s 2-for-1 stock split for Series A Dwiwarna and Series B.
Series A Dwiwarna share with par value of Rp500 was split into 1 Series A Dwiwarna share with
par value of Rp250 per share and 1 Series B share with par value of Rp250 per share. The stock
split resulted in an increase of the Company’s authorized capital stock from 1 Series A Dwiwarna
share and 39,999,999,999 Series B shares to 1 Series A Dwiwarna share and
79,999,999,999 Series B shares, and issued capital stock from 1 Series A Dwiwarna share and
10,079,999,639 Series B shares to 1 Series A Dwiwarna share and 20,159,999,279 Series B
shares. After the stock split, each ADS represented 40 Series B shares.
10
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
c. Public offering of securities of the Company (continued)
During the EGM of Stockholders of the Company on December 21, 2005, AGM of Stockholders
of the Company on June 29, 2007, the AGM of Stockholders of the Company on June 20, 2008,
and AGM of Stockholders of the Company on May 19, 2011, the Company’s stockholders
approved the phase I, II, III and IV plan, respectively, to repurchase the Company’s issued Series
B shares (Note 24).
As of March 31, 2013, all of the Company’s Series B shares were listed on the IDX and
53,339,933 ADS shares were listed on the NYSE and LSE (Note 22).
As of March 31, 2013, the Company’s outstanding bonds which were the second Rupiah bonds
and issued on June 25, 2010 with a nominal amount of Rp1,005 billion for a five-year period and
Rp1,995 billion for a ten-year period for Series A and Series B, respectively, were listed on the
IDX (Note 19a).
d. Subsidiaries
As of March 31, 2013 and December 31, 2012, the Company has consolidated the following
directly or indirectly owned subsidiaries (Notes 2b and 2d):
(i) Direct subsidiaries:
Subsidiary/place of
incorporation
Nature of business/
date of incorporation
or acquisition by
the Company
Percentage of
ownership interest
Date of
commercial
operation
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
PT Telekomunikasi Selular
(“Telkomsel”),
Jakarta, Indonesia
Telecommunication provides
telecommunication
facilities and mobile
cellular services using
Global System for
Mobile Communication
(“GSM”) technology/
May 26, 1995
1995
65
65
67,294
63,576
PT Dayamitra
Telekomunikasi
(“Dayamitra”),
Jakarta, Indonesia
Telecommunication/
May 17, 2001
1995
100
100
5,419
4,931
PT Multimedia Nusantara
(“Metra”),
Jakarta, Indonesia
Multimedia and line
telecommunication
services/May 9, 2003
1998
100
100
3,654
3,395
PT Telekomunikasi
Indonesia International
(“TII”),
Jakarta, Indonesia
Telecommunication/
July 31, 2003
1995
100
100
2,598
2,440
PT Pramindo Ikat
Nusantara
(“Pramindo”),
Jakarta, Indonesia
Telecommunication
construction and
services/ August 15,
2002
1995
100
100
1,213
1,202
PT Indonusa Telemedia
(“Indonusa”),
Jakarta, Indonesia
Pay television and
content services/
May 7, 1997
1997
100
(including
through
0.46%
ownership
by Metra)
100
(including
through
0.46%
ownership
by Metra)
755
771
11
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(i) Direct subsidiaries: (continued)
Subsidiary/place of
incorporation
Nature of business/
date of incorporation
or acquisition by
the Company
PT Graha Sarana Duta
(“GSD”),
Jakarta, Indonesia
Leasing of offices
and providing building
management and
maintenance services,
civil consultant and
developer/
April 25, 2001
PT Napsindo Primatel
Internasional
(“Napsindo”),
Jakarta, Indonesia
Telecommunication provides Network
Access Point (NAP),
Voice Over Data
(VOD) and other
related services/
December 29, 1998
PT Telkom Akses
(“Telkom Akses”),
Jakarta, Indonesia
Construction
service and trade in the
the field of
telecommunication/
November 26, 2012
Percentage of
ownership interest
Date of
commercial
operation
1982
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
99.99
99.99
725
622
1999; ceased
operation on
January 13,
2006
60
60
5
5
2013
100
-
17
-
(ii) Indirect subsidiaries:
Subsidiary/place of
incorporation
Nature of business/
date of incorporation
or acquisition by
the Company
Percentage of
ownership interest
Date of
commercial
operation
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
PT Infomedia Nusantara
(“Infomedia”),
Jakarta, Indonesia
Data and information
service - provides
telecommunication
information services
and other information
services in the form of
print and electronic
media and call
center services/
September 22,1999
1984
100
100
1,130
985
PT Sigma Cipta Caraka
(“Sigma”), Tangerang,
Indonesia
Information technology
service - system
implementation and
integration service,
outsourcing and
software license
maintenance/
May 1, 1987
1988
100
100
1,029
1,014
Telekomunikasi
Indonesia
International Pte. Ltd.,
Singapore
Telecommunication/
December 6, 2007
2008
100
100
531
522
Telekomunikasi
Indonesia
International (TL) S.A.,
Timor Leste
Telecommunication/
September 11, 2012
2012
100
100
249
149
Service for property,
development and
management/
February 1, 2012
2012
55
55
201
150
PT Telkom Landmark
Tower (“TLT”),
Jakarta, Indonesia
12
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(ii) Indirect subsidiaries: (continued)
Subsidiary/place of
incorporation
Percentage of
ownership interest
Nature of business/
date of incorporation
or acquisition by
the Company
Date of
commercial
operation
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
PT Administrasi Medika
(“Ad Medika”),
Jakarta, Indonesia
Health insurance
administration services/
February 25, 2010
2010
75
75
124
95
PT Finnet Indonesia
(“Finnet”), Jakarta,
Indonesia
Banking data and
communication/
October 31, 2005
2006
60
60
105
112
Telekomunikasi Indonesia
International Ltd.,
Hong Kong
Telecommunication/
December 8, 2010
2010
100
100
98
95
PT Metra Plasa
(“Metra Plasa”),
Jakarta, Indonesia
Website
services/
April 9, 2012
2012
60
60
92
95
PT Infomedia Solusi
Humanika
(“ISH”), Jakarta,
Indonesia
Established to engage
in the services of
distribution and
supply of labor/
October 24, 2012
2012
100
-
46
0
PT Metra-Net (“Metra-Net”),
Jakarta, Indonesia
Multimedia portal
service/April 17, 2009
2009
100
100
30
33
Telkomsel Finance B.V.,
(“TFBV”), Amsterdam,
The Netherlands
Finance - established
in 2005 for the
purpose of borrowing,
lending and
raising funds
including issuance
of bonds, promissory
notes or debts/
February 7, 2005
2005
65
65
8
8
PT Graha Yasa Selaras
(“GYS”)
Jakarta, Indonesia
Tourism service/
April 27, 2012
2013
51
-
7
7
PT Metra Media (“MM”)
Jakarta, Indonesia
Trade service, construction
reservansir,
services, etc.
January 8, 2013
2013
100
-
3
-
Telekomunikasi Indonesia
Internasional Pty Ltd.
Australia
Telecomunication/
January 9, 2013
2013
100
-
2
-
Aria West International
Finance B.V.
(“AWI BV”),
The Netherlands
Established to engage
in rendering services
in the field of trade
and finance services/
June 3, 1996
1996; ceased
operation on
July 31, 2003
100
100
0
0
Telekomunikasi Selular
Finance Limited
(“TSFL”), Mauritius
Finance - established
to raise funds
for the development of
Telkomsel’s business
through the issuance
of debenture stock,
bonds, mortgages or
any other securities/
April 22, 2002
2002
65
65
-
-
13
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(a) Metra
On April 2, 2012, based on notarial deed No. 03 dated April 2, 2012 of Utiek R.
Abdurachman, S.H., MLI., MKn., Metra established PT Metra Plasa (“Metra Plasa”) with
authorized capital of Rp50 million with issued and fully paid capital of Rp12.5 million.
On July 20, 2012, based on the Circular Resolution of Stockholders of Metra Plasa, as
covered by notarial deed No. 1 of Utiek R. Abdurachman, S.H., MLI., MKn., dated October 1,
2012, Metra Plasa’s stockholders agreed on the following:
i.
to increase Metra Plasa’s authorized capital from Rp50 million to Rp60 billion consisting
of 6,000,000 shares with nominal value of Rp10,000 (full amount) per share;
ii. to increase its issued and fully paid capital from Rp12.5 million owned 100% by Metra to
Rp15.25 billion by issuing 1,523,750 additional shares with nominal value of Rp10,000
(full amount) per share;
iii. from the issued new shares, totalling 913,750 shares with total nominal value of
Rp9 billion were subcribed by Metra while 610,000 shares with total nominal value of
Rp6 billion were subcribed by eBay International AG at a premium totaling Rp78 billion.
Metra’s ownership was diluted to 60% with the remaining 40% owned by eBay
International AG.
On September 21, 2012, based on notarial deed No. 11 dated September 21, 2012 of N.M.
Dipo Nusantara Pua Upa, S.H., MKn. which was approved by the MoJHR in his Letter No.
AHU-50211.AH.01.01/2012 dated September 26, 2012, Metra established a company with
Pelindo II, a related party of the Company, called PT Integrasi Logistik Cipta Solusi (“ILCS”)
with 49% ownership. ILCS will engage in providing E-trade logistic services and other related
services.
On January 8, 2013, based on notarial deed No. 02 dated January 8, 2013 of Utiek R.
Abdurachman, S.H., MLI., MKn., which was approved by the MoJHR through its Letter
No. AHU-03276.AH.01.01/2013 dated January 29, 2013, Metra established a subsidiary,
PT Metra Media (“MM”), with 99.83% ownership. MM will engage in providing trade,
construction, advertising and other services.
On January 8, 2013, based on notarial deed No. 03 dated January 8, 2013 of Utiek R.
Abdurachman, SH., MLI., MKn., which was approved by the MoJHR through its Letter
No. AHU-03261.AH.01.01/2013 dated January 29, 2013, Metra established a subsidiary,
PT Metra TV (“Metra TV”), with 99.83% ownership. Metra TV will engage in providing
subscription broadcasting services.
On January 22, 2013, based on notarial deed No. 28 dated January 22, 2013 of N.M. Dipo
Nusantara Pua Upa, S.H., MKn., which was approved by the MoJHR through its Letter No.
AHU-03084.AH.01.01/2013 dated January 28, 2013, Metra established a subsidiary, PT
Metra Digital Media (“MDM”), with 99.83% ownership. MDM will engage in providing
telecommunication information and other services.
On March 25, 2013, based on notarial deed No. 38 dated March 25, 2013 of N.M. Dipo
Nusantara Pua Upa, S.H., MKn. which was approved by the MoJHR in his Letter No. AHU20566.AH.01.01 /2013 dated April 17, 2013, Metra established PT Satelit Multimedia
Indonesia (“SMI”) with 99,99% ownership. SMI will engage in commerce and providing
network services, telecommunication, satellite, and multimedia devices.
14
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(b) TII
Based on the Circular Resolution of Stockholders of TII dated September 11, 2012, as
covered by notarial deed No. 04 dated October 4, 2012 of Siti Safarijah, S.H., TII’s
stockholders agreed to establish a subsidiary in Timor Leste named Telekomunikasi
Indonesia International (“TL”) S.A. that is engaged in providing telecommunication services.
On January 9, 2013, based on the Circular Resolution of the Stockholders of TII dated
January 9, 2013, as covered by notarial deed No. 04 dated February 6, 2013 of Siti Safarijah,
S.H., TII’s stockholders agreed to establish a subsidiary, Telekomunikasi Indonesia
Internasional Australia Pty. Ltd. (“Telkom Australia”). Telkom Australia will engage in
providing telecommunication services and IT-based services.
(c) GSD
Based on notarial deed No. 71 of Kartono, S.H. dated December 27, 2011 which was
approved by the MoJHR through Decision Letter No. AHU-05281.AH.01.01/2012 dated
February 1, 2012, GSD established a subsidiary PT Telkom Landmark Tower (“TLT”), with
Yayasan Kesehatan (“Yakes”), a related party of the Company, with 55% ownership. TLT is
engaged in property development and management.
Based on notarial deed No. 48 dated February 7, 2012 of Sri Ahyani, S.H. which was
approved by the MoJHR in his Letter No. AHU-22272.AH.01.01/2012 dated April 27, 2012,
GSD established a subsidiary PT Graha Yasa Selaras (“GYS”), with Yakes, a related party of
the Company, with 51% ownership. GYS is engaged in tourism business.
(d) Telkom Akses
On November 26, 2012, based on notarial deed No. 20 dated November 26, 2012 of Siti
Safarijah, S.H. which was approved by the MoJHR in his Letter No. AHU60691.AH.01.01/2012 dated November 28, 2012, the Company established a subsidiary,
PT Telkom Akses (“Telkom Akses”), with 100% ownership. Telkom Akses will engage in
providing construction service and trade in the field of telecommunication.
15
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(e) Sigma
On June 29, 2012, based on notarial deed No. 3 of Utiek R. Abdurachman, S.H., MLI, MKn.
dated August 13, 2012, Sigma entered into a Sales Purchase Agreement to purchase
150,000 of PT Sigma Solusi Integrasi (“SSI”)’s shares or the equivalent of 30% of SSI’s total
ownership, with a transaction value of Rp26 billion from Marina Budiman, a non-controlling
interest. On July 19, 2012, Sigma settled the transaction. The difference between acquisition
cost and the carrying amount of the interests acquired amounting Rp22 billion is recorded as
“Difference due to acquisition of non-controlling interest in subsidiaries” in the equity account
of the consolidated statements of financial positions.
On August 15, 2012, based on notarial deed of Ny. Bomantari Julianto, S.H. dated
August 15, 2012, Sigma entered into a Conditional Sales Purchase Agreement with
PT Bina Data Mandiri (“BDM”) to purchase a Data Center Business, with a transaction value
of Rp230 billion from BDM. Based on closing agreement dated November 30, 2012, the
identifiable assets arising from the acquisition comprised of land, buildings, machine and
equipment with total fair value amounting to Rp150 billion and intangible assets included
customer contracts and backlog with fair value amounting to Rp3 billion. The acquisition was
resulted in goodwill amounting to Rp77 billion.
On September 17, 2012, based on notarial deed No. 10 of Utiek R. Abdurachman, SH., MLI.,
MKn. dated September 17, 2012, Sigma’s stockholders agreed to liquidate its subsidiary
called PT Sigma Karya Sempurna (“SKS”), effective from September 17, 2012. The
liquidation constitute as a process of internal restructuring of Sigma Group’s business. As of
the issuance date of the consolidated financial statements, the District Court’s decision of the
liquidation request is still in process.
On January 17, 2013, Sigma signed a share sale and transfer and loan assignment
agreement with Landeskreditbank Baden-Wuttemberg-Forderbank (“L-Bank”), and Step
Stuttgarter Engineering Park Gmbh. (“STEP”) as PT German Center Indonesia’s (“GCI”)
stockholders. Based on that agreement, Sigma agreed to buy all the shares of GCI owned by
L-Bank and STEP and take over L-Bank’s stockholders’ loan at a purchasing price of
US$17.8 million (equivalent to Rp170 billion). The closing of this transaction will be on April 1,
2013 subject to change with the written consent of all parties.
(f) Infomedia
On October 24, 2012, based on notarial deed No. 15 of Zulkifli Harahap, S.H. dated
October 24, 2012 which was approved by the MoJHR through Decision Letter No. AHU55715.AH.01.01/2012 dated October 30, 2012, Infomedia established a subsidiary called
PT Infomedia Solusi Humanika (“ISH”) with 100% ownership. ISH will engage in the services
for distribution and supply of labor.
16
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(f) Infomedia (continued)
On December 17, 2012, based on notarial deed No. 231 of M. Kholid Artha, SH. dated
December 17, 2012, Infomedia purchased 1,778 and 1,777, shares of Balebat, a subsidiary
of Infomedia, or the equivalent of 15.73% and 15.73%, respectively, of Balebat’s total
ownership, with a transaction value of Rp4.4 billion and Rp4.4 billion, respectively, from Zikra
Lukman and Siti Chadijah, non-controlling interests. The difference between acquisition cost
and the carrying amount of the interests acquired amounting to Rp1 billion is recorded as
“Difference due to acquisition of non-controlling interest in subsidiaries” in the equity account
of the consolidated statements of financial position.
e. Authorization of the consolidated financial statements
The consolidated financial statements were prepared and approved to be issued by the Board of
Directors on April 26, 2013.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Company and subsidiaries have been prepared in
accordance with Indonesian Financial Accounting Standards (“Pernyataan Standar Akuntansi
Keuangan” or “PSAK”) and Regulation No. VIII.G.7 of the Capital Market and Financial Institution
Supervisory Agency (“Bapepam-LK”) regarding the Presentations and Disclosures of Financial
Statements of Issuers or Public Companies, enclosed in the decision letter KEP- 347/BL/2012.
a. Basis of preparation of financial statements
The consolidated financial statements, except for the consolidated statements of cash flows, are
prepared on the accrual basis. The measurement basis used is historical cost, except for certain
accounts which are measured using the basis mentioned in the relevant notes herein.
The consolidated statements of cash flows are prepared using the direct method and present the
changes in cash and cash equivalents from operating, investing and financing activities.
Figures in the consolidated financial statements are presented and rounded to billions of
Indonesian Rupiah (“Rp”), unless otherwise stated.
Changes to the statements of financial accounting standards (PSAKs) and interpretations
of statements of financial accounting standards (“Interpretasi Standar Akuntansi
Keuangan” or “ISAKs”)
On January 1, 2013, the Company and subsidiaries adopted new and revised PSAKs and ISAKs
which were effective in 2013. Changes to the Company and subsidiaries’ accounting policies
have been made as required in accordance with the transitional provisions in the respective
standards and interpretations.
17
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
a. Basis of preparation of financial statements (continued)
The adoption of these new/revised standards and interpretations had no material effect to the
consolidated financial statements’ disclosure and presentation:
• PSAK 38, “Entities Under Common Control Business Combination”
• PSAK 60 (Revised 2010), “Financial Instruments: Disclosures”.
b. Principles of consolidation
The consolidated financial statements include the assets and liabilities of the Company and
subsidiaries in which the Company, directly or indirectly has ownership of more than half of the
voting power and has the ability to govern the financial and operating policies of the entity unless,
in exceptional circumstances, it can be clearly demonstrated that such ownership does not
constitute control, or the Company has the ability to control the entity, even though the ownership
is less than or equal to half of the voting power. Subsidiaries are consolidated from the date on
which effective control is obtained and are no longer consolidated from the date control ceases.
Non-controlling interest represents the portion of the profit and loss and net assets of the
subsidiaries not attributable, directly or indirectly, to the Company. Profit or loss and each
component of other comprehensive income are attributed to the owners of the Company and to
the non-controlling interests proportionally in accordance with its ownership in the subsidiaries.
Non-controlling interests are presented under the equity section in the consolidated statement of
financial position, separately from the owners of the Company’s equity. In the consolidated
statement of compherensive income, total profit or loss and total comprehensive income that can
be attributed to the owners of the Company and to the non-controlling interests are presented
separately, and not presented as income or expense.
Intercompany balances and transactions have been eliminated in the consolidated financial
statements.
c. Transactions with related parties
The Company and subsidiaries have transactions with related parties. The definition of related
parties used is in accordance with the Bapepam-LK’s Regulation No. VIII.G.7 regarding the
Presentations and Disclosures of Financial Statements of Issuers or Public companies, enclosed
in the decision letter No. KEP-347/BL/2012. The party which is considered as a related party is a
person or entity that is related to t
PT Telekomunikasi Indonesia Tbk
and Subsidiaries
Consolidated financial statements
as of March 31, 2013 (unaudited)
and for three months period ended with comparative
figures as of December 31, 2012 (audited) and
for three months period
ended March 31, 2012 (unaudited)
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED WITH
COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED)
AND FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
TABLE OF CONTENTS
Page
Consolidated Statements of Financial Position ……..…………………………………………………
1-2
Consolidated Statements of Comprehensive Income…………………………………………………
3
Consolidated Statements of Changes in Equity………………………….………………..…………..
4-5
Consolidated Statements of Cash Flows……………………………………………………………….
6
Notes to the Consolidated Financial Statements……………………………………………..………..
7-117
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
AS OF DECEMBER 31, 2012 (AUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
March 31,
2013
December 31,
2012
ASSETS
CURRENT ASSETS
Cash and cash equivalents
Other current financial assets
Trade receivables - net of provision for
impairment of receivables
Related parties
Third parties
Other receivables - net of provision for
impairment of receivables
Inventories - net of provision for
obsolescence
Advances and prepaid expenses
Claims for tax refund
Prepaid taxes
Asset held for sale
2c,2e,2u,3,37,44
2c,2e,2u,4,37,44
2g,2u,5,29,44
2c,37
2g,2u,44
2h,6,16,20,29
2c,2i,7,37
2t,31
2t,31
2j,8
Total Current Assets
NON-CURRENT ASSETS
Long-term investments
Property and equipment - net of
accumulated depreciation
Prepaid pension benefit costs
Advances and other non-current
assets
Intangible assets - net of
accumulated amortization
Deferred tax assets - net
Total Non-current Assets
TOTAL ASSETS
20,112
951
13,118
4,338
663
5,216
701
4,522
234
186
703
3,583
438
327
130
579
3,721
436
372
-
32,357
27,973
2f,2u,9,44
2l,2m,10
16,19,20,39
2s,34
2c,2i,2l,2n,2u
11,37,41,44
272
275
77,050
1,007
77,047
1,032
3,922
3,510
2d,2k,2n,12
2t,31
1,383
113
1,443
89
83,747
83,396
116,104
111,369
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements
taken as a whole.
31
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AS OF MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
AS OF DECEMBER 31, 2012 (AUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
March 31,
2013
December 31,
2012
LIABILITIES AND EQUITY
CURRENT LIABILITIES
Trade payables
Related parties
Third parties
Other payables
Taxes payables
Accrued expenses
Unearned income
Advances from customers and suppliers
Short-term bank loans
Current maturities of long-term liabilities
Total Current Liabilities
2o,2r,2u,13,44
2c,37
636
6,493
429
2,135
5,829
2,940
275
154
5,268
24,159
432
6,848
176
1,844
6,163
2,729
257
37
5,621
24,107
2t,31
2r
2s,35
2c,2s,36,37
3,099
313
351
682
3,059
334
347
679
2c,2s,34,37
2u,17,44
2m,10
2c,2p,18,37
2c,2p,19,37
2c,2p,20,37
2,382
2,248
1,967
1,698
3,202
6,284
1,814
1,791
3,229
6,783
19,978
44,137
20,284
44,391
5,040
1,073
(8,067)
5,040
1,073
(8,067)
2u,44
2t,31
2c,2r,2u,14,27,34,37,44
2r,15
2c,37
2c,2p,2u,16,37,44
2c,2m,2p,2u,17,37,44
NON-CURRENT LIABILITIES
Deferred tax liabilities - net
Other liabilities
Long service awards provisions
Post-retirement health care benefits provisions
Retirement benefits obligation and other post
retirement benefits
Long-term liabilities - net of current maturities
Obligations under finance leases
Two-step loans
Bonds and notes
Bank loans
Total Non-current Liabilities
TOTAL LIABILITIES
EQUITY
Capital stock - Rp250 par value per Series A
Dwiwarna share and Series B share
Authorized - 1 Series A Dwiwarna share and
79,999,999,999 Series B shares
Issued and fully paid - 1 Series A Dwiwarna
share and 20,159,999,279 Series B shares
Additional paid-in capital
Treasury stock
Difference in value arising from restructuring
transactions and other transactions between
entities under common control
Effect of change in equity of
associated companies
Unrealized holding gain from
available-for-sale securities
Translation adjustment
Difference due to acquisition of non-controlling
interest in subsidiaries
Other reserves
Retained earnings
Appropriated
Unappropriated
1c,22
2v,23
2v,24
2d,25
478
478
2f
386
386
2u
2f
53
274
42
271
1d,2d
1d
(508)
49
(508)
49
33
Total Equity Attributable to Owners of the Parent
Company
Non-controlling interests
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
2b,21
15,337
40,917
15,337
37,440
55,032
51,541
16,935
71,967
116,104
15,437
66,978
111,369
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements
taken as a whole.
23
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED) WITH
COMPARATIVE FIGURES FOR THREE MONTHS PERIOD ENDED
MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
REVENUES
Operations, maintenance and telecommunication
services expenses
Depreciation and amortization expenses
Personnel expenses
Interconnection expenses
Marketing expenses
General and administrative expenses
Gain on foreign exchange - net
Other income
Other expenses
2013
2012
2c,2r,26,37
19,547
17,796
2c,2r,28,37
2k,2l,2m,2r,10,11,12
2c,2r,2s,14,27,34,35,
36,37
2c,2r,30,37
2r
2c,2g,2h,2r,2t,5,6,
29,37
2q
2r,10c
2r,10c
(4,698)
(3,462)
(3,916)
(3,465)
(2,331)
(1,175)
(651)
(2,047)
(995)
(635)
(643)
91
129
(57)
(580)
16
180
(134)
OPERATING PROFIT
6,750
Finance income
Finance costs
Share of loss of associated companies
2c,37
2c,2r,37
2f,9
PROFIT BEFORE INCOME TAX
208
(324)
(3)
6,631
INCOME TAX (EXPENSE) BENEFIT
Current
Deferred
6,220
129
(278)
6,071
2t,31
PROFIT FOR THE YEAR
OTHER COMPREHENSIVE INCOME
Foreign currency translation
Change in fair value of available-for-sale financial assets
1d,2b,2f
2u
Total Other Comprehensive Income - net
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
Profit for the year attributable to:
Owners of the parent company
Non-controlling interests
2b,21
Total comprehensive income for the year attributable to:
Owners of the parent company
Non-controlling interests
2b,21
BASIC AND DILUTED EARNINGS PER SHARE (in full amount)
Net income per share
Net income per ADS (40 Series B shares per ADS)
(1,627)
(19)
(1,698)
186
(1,646)
(1,512)
4,985
4,559
3
11
2
3
14
5
4,999
4,564
3,477
1,508
3,322
1,237
4,985
4,559
3,491
1,508
3,327
1,237
4,999
4,564
181.58
7,263.20
172.20
6,888.00
2x,32
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements
taken as a whole.
3
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Attributable to owners of the parent company
Descriptions
Notes
Balance, December 31, 2012
Cash dividends
Comprehensive income
for the year
Balance, March 31, 2013
Additional
paid-in
capital
Capital
stock
5,040
1,073
2w,33
-
-
1d,2b,2f,
2q,2s,9
5,040
Difference
in value
arising from
restructuring
transactions
and other
transactions
between
entities under
common
control
Treasury
stock
(8,067 )
Unrealized
holding
gain on
availablefor-sale
securities
Effect of
change in
equity of
associated
companies
Difference
due to
acquisition of
noncontrolling
Retained earnings
interest in
Other
subsidiaries reserves Appropriated Unappropriated
Translation
adjustment
478
386
42
271
-
-
-
-
-
-
-
-
-
11
3
1,073
(8,067)
478
386
53
274
(508)
-
(508)
Total
15,437
Total
equity
49
15,337
37,440
51,541
-
-
-
-
-
-
3,477
3,491
1,508
4,999
49
15,337
40,917
55,032
16,935
71,967
The accompanying notes to the consolidated financial statements form an integral part of these consolidated financial statements taken as a whole.
4
Noncontrolling
interests
(10)
66,978
(10)
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (continued)
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED) WITH COMPARATIVE FIGURES
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Attributable to owners of the parent company
Descriptions
Additional
paid-in
capital
Capital
stock
Notes
Balance, December 31, 2011
5,040
1,073
Acquisition of non-controlling
interest in subsidiaries
1d,2d
-
-
Treasury stock acquired
- at cost
2v,24
-
-
Comprehensive income
for the year
1d, 2b,2f,
2q,2s,9
Balance, March 31, 2012
-
-
5,040
1,073
Difference
in value
arising from
restructuring
transactions
and other
transactions
between
entities under
common
control
Treasury
stock
(6,323)
-
(1,154)
(7,477)
Unrealized
holding
gain
availablefor-sale
securities
Effect of
change in
equity of
associated
companies
Difference
due to
acquisition of
noncontrolling
Retained earnings
interest in
subsidiaries Appropriated
Unappropriated
Translation
adjustment
478
386
47
240
-
-
-
-
-
-
-
-
-
-
3
2
478
386
50
242
(485)
Total
15,337
31,717
47,510
-
-
-
-
-
-
-
(485)
(1,154)
Total
equity
13,471
(4 )
-
60,981
(4)
(1,154)
-
3,322
3,327
1,237
4,564
15,337
35,039
49,683
14,704
64,387
The accompanying notes to the consolidated financial statements, form an integral part of these consolidated financial statements taken as a whole.
5
Noncontrolling
interests
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE MONTHS PERIOD ENDED MARCH 31, 2013 (UNAUDITED)
WITH COMPARATIVE FIGURES FOR THREE MONTHS PERIOD ENDED
MARCH 31,2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah)
Notes
2013
2012
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from:
Customers
Other operators
18,042
876
16,328
804
Total cash receipts from revenues
Interest income received
Cash Arefunds to (advance from) customers
Cash payments for expenses
Cash payments to employees
Payments for income taxes
Payments for interest costs
18,918
205
1
(6,819)
(2,946)
(1,352)
(322)
17,132
127
41
(5,381)
(2,087)
(858)
(199)
7,685
8,775
3,654
12
(3,199)
(255)
(80)
(29)
(22)
(8)
2
17
(4,028)
(108)
167
(46)
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from time deposits and (purchase) of available-for-sale financial assets
Proceeds from insurance claims
Proceeds from sale of property and equipment
Acquisition of property and equipment
Placement in time deposits
Acquisition of intangible assets
(Increase) decrease in advances for purchases of property and equipment
Increase in advances and other non-current assets
10
10
10
4
12
11
11
Net cash provided by/(used in) investing activities
81
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank loans
Proceeds from short-term bank loans
Proceeds from promissory notes
Proceeds from medium-term notes
Payments for treasury stock
Repayment of two-step loans and bank loans
Repayments of obligation under finance leases
Repayments of promissory notes
Repayments of short-term bank loans
Cash dividends paid to non-controlling interests of subsidiaries
Repayments of medium-term notes
20
16
19
19
24
18,20
10
19
16
19
Net cash used in financing activities
NET INCREASE IN CASH AND CASH EQUIVALENTS
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
(4,004)
710
147
8
(1,474)
(79)
(65)
(30)
(10)
(8)
40
79
101
10
(1,154)
(2,211)
(46)
(45)
(25)
(6)
(801)
(3,257)
6,965
1,514
29
15
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
3
13,118
9,634
CASH AND CASH EQUIVALENTS AT END OF YEAR
3
20,112
11,163
The accompanying notes to the consolidated financial statements, form an integral part of these consolidated financial statements
taken as a whole.
6
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL
a. Establishment and general information
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (the “Company”) was
originally part of “Post en Telegraafdienst”, which was established and operated commercially in
1884 under the framework of Decree No. 7 dated March 27, 1884 of the Governor General of the
Dutch Indies and was published in State Gazette No. 52 dated April 3, 1884.
In 1991, the status of the Company was changed into a state-owned limited liability corporation
(“Persero”) based on Government Regulation No. 25/1991. The ultimate parent of the Company
is the Government of the Republic of Indonesia (the “Government”) (Notes 1c and 22).
The Company was established based on notarial deed No. 128 dated September 24, 1991 of
Imas Fatimah, S.H.. The deed of establishment was approved by the Minister of Justice of the
Republic of Indonesia in his Decision Letter No. C2-6870.HT.01.01.Th.1991 dated
November 19, 1991, and was published in State Gazette No. 5 dated January 17, 1992,
Supplement No. 210. The Articles of Association have been amended several times,
the latest amendment of which was, among others, about the requirement that Directors’ action
must obtain written approval of the Board of Commissioners, based on notarial deed No. 30
dated June 7, 2012 of Ashoya Ratam, S.H., MKn. The changes were accepted and approved by
the Minister of Law and Human Rights of the Republic of Indonesia (“MoJHR”) through his Letter
No. AHU-AH.01.10-34558 dated September 24, 2012.
In accordance with Article 3 of the Company’s Articles of Association, the scope of its activities is
to provide telecommunication network and services, informatics and optimization of the
Company’s resources in accordance with prevailing regulations. To achieve this objective, the
Company is involved in the following activities:
a. Main business:
i.
ii.
Planning, building, providing, developing, operating, marketing or selling, leasing and
maintaining telecommunications and information networks in accordance with prevailing
regulations.
Planning, developing, providing, marketing or selling and improving telecommunications
and information services in accordance with prevailing regulations.
b. Supporting business:
i.
ii.
Providing payment transactions and money transferring services through
telecommunications and information networks.
Performing activities and other undertakings in connection with optimization of the
Company's resources, which among others include the utilization of the Company's
property and equipment and moving assets, information systems, education and training,
and repairs and maintenance facilities.
The Company’s head office is located at Jalan Japati No. 1, Bandung, West Java.
7
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
a. Establishment and general information (continued)
The Company was granted several telecommunications licenses which are valid for an unlimited
period of time as long as the Company complies with prevailing laws and telecommunications
regulations and fulfills the obligations stated in those permits. For every license, an evaluation is
performed annually and an overall evaluation is performed every 5 (five) years. The Company is
obliged to submit reports of services annually to the Indonesian Directorate General of Post and
Informatics (“DGPI”), which replaced the previous Indonesian Directorate General of Post and
Telecommunications (“DGPT”). The reports comprise information such as network development
progress, service quality standard achievement, total customer, license payment and universal
service contribution, while for internet telephone services for public purpose (“ITKP”), there is
additional information required such as operational performance, customer segmentation, traffic,
and gross revenue.
Details of these licenses are as follows:
License
Grant date/latest
renewal date
License No.
Type of services
License to operate
local fixed line and
basic telephone
services network
381/KEP/
M.KOMINFO/
10/2010
Local fixed line and
basic telephone
services network
October 28, 2010
License to operate
fixed domestic
long distance and
basic telephone
services network
382/KEP/
M.KOMINFO/
10/2010
Fixed domestic long
distance and basic
telephone services
network
October 28, 2010
License to operate
fixed international
and basic telephone
services network
383/KEP/
M.KOMINFO/
10/2010
Fixed international
and basic telephone
services network
October 28, 2010
License to operate
fixed closed
network
398/KEP/
M.KOMINFO/
11/2010
Fixed closed
network
November 12, 2010
License to operate
internet telephone
services for public
purpose
384/KEP/DJPT/
M.KOMINFO/
11/2010
ITKP
November 29, 2010
License to operate
as internet service
provider
83/KEP/DJPPI/
KOMINFO/
4/2011
Internet service
provider
April 7, 2011
License to operate
data communication
system services
169/KEP/DJPPI/
KOMINFO/
6/2011
Data communication
system services
June 6, 2011
331/KEP/
M.KOMINFO/
07/2011
Packet switched
based local fixed
line network
July 27, 2011
License to operate
packet switched
based local fixed
line network
8
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Company’s Board of Commissioners, Board of Directors, Audit Committee, Corporate
Secretary and employees
1. Boards of Commissioners and Directors
Based on resolutions made at (i) the Extraordinary General Meeting (“EGM”) of Stockholders
of the Company dated December 17, 2010 as covered by notarial deed No. 33 of Dr. A.
Partomuan Pohan, S.H., LLM., and (ii) the Annual General Meeting (“AGM”) of Stockholders
of the Company dated May 11, 2012 as covered by notarial deed No. 14 of Ashoya Ratam,
S.H., MKn., the composition of the Company’s Boards of Commissioners and Directors as of
March 31, 2013 and December 31, 2012, respectively, was as follows:
March 31, 2013
President Commissioner
Commissioner
Commissioner
Independent Commissioner
Independent Commissioner
President Director
Director of Finance
Director of Network and Solution
Director of Enterprise and
Wholesale
Director of Consumer
Director of Compliance and
Risk Management
Director of Information
Technology Solution &
Strategic Portfolio
Director of Human Capital
and General Affairs
December 31, 2012
Jusman Syafii Djamal
Parikesit Suprapto
Hadiyanto
Virano Gazi Nasution
Johnny Swandi Sjam
Arief Yahya
Honesti Basyir
Rizkan Chandra
Jusman Syafii Djamal
Parikesit Suprapto
Hadiyanto
Virano Gazi Nasution
Johnny Swandi Sjam
Arief Yahya
Honesti Basyir
Rizkan Chandra
Muhammad Awaluddin
Sukardi Silalahi
Muhammad Awaluddin
Sukardi Silalahi
Ririek Adriansyah
Ririek Adriansyah
Indra Utoyo
Indra Utoyo
Priyantono Rudito
Priyantono Rudito
2. Audit Committee and Corporate Secretary
The composition of the Company’s Audit Committee and Corporate Secretary as of March
31, 2013 and December 31, 2012, respectively, were as follows:
March 31, 2013
Chair
Secretary
Member
Member
Member
Member
Corporate Secretary
Johnny Swandi Sjam
Salam
Parikesit Suprapto
Agus Yulianto
Sahat Pardede
Virano Gazi Nasution
Agus Murdiyatno
9
December 31, 2012
Johnny Swandi Sjam
Salam
Parikesit Suprapto
Agus Yulianto
Sahat Pardede
Virano Gazi Nasution
Agus Murdiyatno
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
b. Company’s Board of Commissioners, Boards of Directors, Audit Committee, Corporate
Secretary and employees (continued)
3. Employees
As of March 31, 2013 and December 31, 2012, the Company and subsidiaries had 25,095
employees and 25,683 employees (unaudited), respectively.
c. Public offering of securities of the Company
The Company’s shares prior to its Initial Public Offering (“IPO”) totalled 8,400,000,000, consisting
of 8,399,999,999 Series B shares and 1 Series A Dwiwarna share, and were 100%-owned by the
Government of the Republic of Indonesia (the “Government”). On November 14, 1995,
933,333,000 new Series B shares and 233,334,000 Series B shares owned by the Government
were offered to public through IPO and listed on the Indonesia Stock Exchange (“IDX”)
(previously the Jakarta Stock Exchange and the Surabaya Stock Exchange) and
700,000,000 Series B shares owned by the Government were offered to the public and listed on
the New York Stock Exchange (“NYSE”) and the London Stock Exchange (“LSE”), in the form of
American Depositary Shares (“ADS”). There are 35,000,000 ADS and each ADS represents
20 Series B shares at that time.
In December 1996, the Government had a block sale of its 388,000,000 Series B shares, and
in 1997, had distributed 2,670,300 Series B shares as incentive to the Company’s stockholders
who did not sell their shares within one year from the date of the IPO. In May 1999,
the Government further sold 898,000,000 Series B shares.
To comply with Law No. 1/1995 on Limited Liability Companies, at the the Annual General
Meeting (“AGM”) of Stockholders of the Company on April 16, 1999, the Company’s stockholders
resolved to increase the Company’s issued share capital by distribution of 746,666,640 bonus
shares through the capitalization of certain additional paid-in capital, which were distributed to the
Company’s stockholders in August 1999. On August 16, 2007, Law No. 1/1995 on Limited
Liability Companies was amended by the issuance of Law No. 40/2007 on Limited Liability
Companies which became effective at the same date. Law No. 40/2007 has no effect on the
public offering of shares of the Company. The Company has complied with Law No. 40/2007.
In December 2001, the Government had another block sale of 1,200,000,000 shares or
11.9% of the total outstanding Series B shares. In July 2002, the Government sold a further
312,000,000 shares or 3.1% of the total outstanding Series B shares.
At the AGM of Stockholders of the Company held on July 30, 2004, the minutes of which are
covered by notarial deed No. 26 of A. Partomuan Pohan, S.H., LLM., the Company’s
stockholders approved the Company’s 2-for-1 stock split for Series A Dwiwarna and Series B.
Series A Dwiwarna share with par value of Rp500 was split into 1 Series A Dwiwarna share with
par value of Rp250 per share and 1 Series B share with par value of Rp250 per share. The stock
split resulted in an increase of the Company’s authorized capital stock from 1 Series A Dwiwarna
share and 39,999,999,999 Series B shares to 1 Series A Dwiwarna share and
79,999,999,999 Series B shares, and issued capital stock from 1 Series A Dwiwarna share and
10,079,999,639 Series B shares to 1 Series A Dwiwarna share and 20,159,999,279 Series B
shares. After the stock split, each ADS represented 40 Series B shares.
10
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
c. Public offering of securities of the Company (continued)
During the EGM of Stockholders of the Company on December 21, 2005, AGM of Stockholders
of the Company on June 29, 2007, the AGM of Stockholders of the Company on June 20, 2008,
and AGM of Stockholders of the Company on May 19, 2011, the Company’s stockholders
approved the phase I, II, III and IV plan, respectively, to repurchase the Company’s issued Series
B shares (Note 24).
As of March 31, 2013, all of the Company’s Series B shares were listed on the IDX and
53,339,933 ADS shares were listed on the NYSE and LSE (Note 22).
As of March 31, 2013, the Company’s outstanding bonds which were the second Rupiah bonds
and issued on June 25, 2010 with a nominal amount of Rp1,005 billion for a five-year period and
Rp1,995 billion for a ten-year period for Series A and Series B, respectively, were listed on the
IDX (Note 19a).
d. Subsidiaries
As of March 31, 2013 and December 31, 2012, the Company has consolidated the following
directly or indirectly owned subsidiaries (Notes 2b and 2d):
(i) Direct subsidiaries:
Subsidiary/place of
incorporation
Nature of business/
date of incorporation
or acquisition by
the Company
Percentage of
ownership interest
Date of
commercial
operation
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
PT Telekomunikasi Selular
(“Telkomsel”),
Jakarta, Indonesia
Telecommunication provides
telecommunication
facilities and mobile
cellular services using
Global System for
Mobile Communication
(“GSM”) technology/
May 26, 1995
1995
65
65
67,294
63,576
PT Dayamitra
Telekomunikasi
(“Dayamitra”),
Jakarta, Indonesia
Telecommunication/
May 17, 2001
1995
100
100
5,419
4,931
PT Multimedia Nusantara
(“Metra”),
Jakarta, Indonesia
Multimedia and line
telecommunication
services/May 9, 2003
1998
100
100
3,654
3,395
PT Telekomunikasi
Indonesia International
(“TII”),
Jakarta, Indonesia
Telecommunication/
July 31, 2003
1995
100
100
2,598
2,440
PT Pramindo Ikat
Nusantara
(“Pramindo”),
Jakarta, Indonesia
Telecommunication
construction and
services/ August 15,
2002
1995
100
100
1,213
1,202
PT Indonusa Telemedia
(“Indonusa”),
Jakarta, Indonesia
Pay television and
content services/
May 7, 1997
1997
100
(including
through
0.46%
ownership
by Metra)
100
(including
through
0.46%
ownership
by Metra)
755
771
11
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(i) Direct subsidiaries: (continued)
Subsidiary/place of
incorporation
Nature of business/
date of incorporation
or acquisition by
the Company
PT Graha Sarana Duta
(“GSD”),
Jakarta, Indonesia
Leasing of offices
and providing building
management and
maintenance services,
civil consultant and
developer/
April 25, 2001
PT Napsindo Primatel
Internasional
(“Napsindo”),
Jakarta, Indonesia
Telecommunication provides Network
Access Point (NAP),
Voice Over Data
(VOD) and other
related services/
December 29, 1998
PT Telkom Akses
(“Telkom Akses”),
Jakarta, Indonesia
Construction
service and trade in the
the field of
telecommunication/
November 26, 2012
Percentage of
ownership interest
Date of
commercial
operation
1982
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
99.99
99.99
725
622
1999; ceased
operation on
January 13,
2006
60
60
5
5
2013
100
-
17
-
(ii) Indirect subsidiaries:
Subsidiary/place of
incorporation
Nature of business/
date of incorporation
or acquisition by
the Company
Percentage of
ownership interest
Date of
commercial
operation
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
PT Infomedia Nusantara
(“Infomedia”),
Jakarta, Indonesia
Data and information
service - provides
telecommunication
information services
and other information
services in the form of
print and electronic
media and call
center services/
September 22,1999
1984
100
100
1,130
985
PT Sigma Cipta Caraka
(“Sigma”), Tangerang,
Indonesia
Information technology
service - system
implementation and
integration service,
outsourcing and
software license
maintenance/
May 1, 1987
1988
100
100
1,029
1,014
Telekomunikasi
Indonesia
International Pte. Ltd.,
Singapore
Telecommunication/
December 6, 2007
2008
100
100
531
522
Telekomunikasi
Indonesia
International (TL) S.A.,
Timor Leste
Telecommunication/
September 11, 2012
2012
100
100
249
149
Service for property,
development and
management/
February 1, 2012
2012
55
55
201
150
PT Telkom Landmark
Tower (“TLT”),
Jakarta, Indonesia
12
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(ii) Indirect subsidiaries: (continued)
Subsidiary/place of
incorporation
Percentage of
ownership interest
Nature of business/
date of incorporation
or acquisition by
the Company
Date of
commercial
operation
March 31,
2013
Total assets
before elimination
December 31,
2012
March 31,
2013
December 31,
2012
PT Administrasi Medika
(“Ad Medika”),
Jakarta, Indonesia
Health insurance
administration services/
February 25, 2010
2010
75
75
124
95
PT Finnet Indonesia
(“Finnet”), Jakarta,
Indonesia
Banking data and
communication/
October 31, 2005
2006
60
60
105
112
Telekomunikasi Indonesia
International Ltd.,
Hong Kong
Telecommunication/
December 8, 2010
2010
100
100
98
95
PT Metra Plasa
(“Metra Plasa”),
Jakarta, Indonesia
Website
services/
April 9, 2012
2012
60
60
92
95
PT Infomedia Solusi
Humanika
(“ISH”), Jakarta,
Indonesia
Established to engage
in the services of
distribution and
supply of labor/
October 24, 2012
2012
100
-
46
0
PT Metra-Net (“Metra-Net”),
Jakarta, Indonesia
Multimedia portal
service/April 17, 2009
2009
100
100
30
33
Telkomsel Finance B.V.,
(“TFBV”), Amsterdam,
The Netherlands
Finance - established
in 2005 for the
purpose of borrowing,
lending and
raising funds
including issuance
of bonds, promissory
notes or debts/
February 7, 2005
2005
65
65
8
8
PT Graha Yasa Selaras
(“GYS”)
Jakarta, Indonesia
Tourism service/
April 27, 2012
2013
51
-
7
7
PT Metra Media (“MM”)
Jakarta, Indonesia
Trade service, construction
reservansir,
services, etc.
January 8, 2013
2013
100
-
3
-
Telekomunikasi Indonesia
Internasional Pty Ltd.
Australia
Telecomunication/
January 9, 2013
2013
100
-
2
-
Aria West International
Finance B.V.
(“AWI BV”),
The Netherlands
Established to engage
in rendering services
in the field of trade
and finance services/
June 3, 1996
1996; ceased
operation on
July 31, 2003
100
100
0
0
Telekomunikasi Selular
Finance Limited
(“TSFL”), Mauritius
Finance - established
to raise funds
for the development of
Telkomsel’s business
through the issuance
of debenture stock,
bonds, mortgages or
any other securities/
April 22, 2002
2002
65
65
-
-
13
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(a) Metra
On April 2, 2012, based on notarial deed No. 03 dated April 2, 2012 of Utiek R.
Abdurachman, S.H., MLI., MKn., Metra established PT Metra Plasa (“Metra Plasa”) with
authorized capital of Rp50 million with issued and fully paid capital of Rp12.5 million.
On July 20, 2012, based on the Circular Resolution of Stockholders of Metra Plasa, as
covered by notarial deed No. 1 of Utiek R. Abdurachman, S.H., MLI., MKn., dated October 1,
2012, Metra Plasa’s stockholders agreed on the following:
i.
to increase Metra Plasa’s authorized capital from Rp50 million to Rp60 billion consisting
of 6,000,000 shares with nominal value of Rp10,000 (full amount) per share;
ii. to increase its issued and fully paid capital from Rp12.5 million owned 100% by Metra to
Rp15.25 billion by issuing 1,523,750 additional shares with nominal value of Rp10,000
(full amount) per share;
iii. from the issued new shares, totalling 913,750 shares with total nominal value of
Rp9 billion were subcribed by Metra while 610,000 shares with total nominal value of
Rp6 billion were subcribed by eBay International AG at a premium totaling Rp78 billion.
Metra’s ownership was diluted to 60% with the remaining 40% owned by eBay
International AG.
On September 21, 2012, based on notarial deed No. 11 dated September 21, 2012 of N.M.
Dipo Nusantara Pua Upa, S.H., MKn. which was approved by the MoJHR in his Letter No.
AHU-50211.AH.01.01/2012 dated September 26, 2012, Metra established a company with
Pelindo II, a related party of the Company, called PT Integrasi Logistik Cipta Solusi (“ILCS”)
with 49% ownership. ILCS will engage in providing E-trade logistic services and other related
services.
On January 8, 2013, based on notarial deed No. 02 dated January 8, 2013 of Utiek R.
Abdurachman, S.H., MLI., MKn., which was approved by the MoJHR through its Letter
No. AHU-03276.AH.01.01/2013 dated January 29, 2013, Metra established a subsidiary,
PT Metra Media (“MM”), with 99.83% ownership. MM will engage in providing trade,
construction, advertising and other services.
On January 8, 2013, based on notarial deed No. 03 dated January 8, 2013 of Utiek R.
Abdurachman, SH., MLI., MKn., which was approved by the MoJHR through its Letter
No. AHU-03261.AH.01.01/2013 dated January 29, 2013, Metra established a subsidiary,
PT Metra TV (“Metra TV”), with 99.83% ownership. Metra TV will engage in providing
subscription broadcasting services.
On January 22, 2013, based on notarial deed No. 28 dated January 22, 2013 of N.M. Dipo
Nusantara Pua Upa, S.H., MKn., which was approved by the MoJHR through its Letter No.
AHU-03084.AH.01.01/2013 dated January 28, 2013, Metra established a subsidiary, PT
Metra Digital Media (“MDM”), with 99.83% ownership. MDM will engage in providing
telecommunication information and other services.
On March 25, 2013, based on notarial deed No. 38 dated March 25, 2013 of N.M. Dipo
Nusantara Pua Upa, S.H., MKn. which was approved by the MoJHR in his Letter No. AHU20566.AH.01.01 /2013 dated April 17, 2013, Metra established PT Satelit Multimedia
Indonesia (“SMI”) with 99,99% ownership. SMI will engage in commerce and providing
network services, telecommunication, satellite, and multimedia devices.
14
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(b) TII
Based on the Circular Resolution of Stockholders of TII dated September 11, 2012, as
covered by notarial deed No. 04 dated October 4, 2012 of Siti Safarijah, S.H., TII’s
stockholders agreed to establish a subsidiary in Timor Leste named Telekomunikasi
Indonesia International (“TL”) S.A. that is engaged in providing telecommunication services.
On January 9, 2013, based on the Circular Resolution of the Stockholders of TII dated
January 9, 2013, as covered by notarial deed No. 04 dated February 6, 2013 of Siti Safarijah,
S.H., TII’s stockholders agreed to establish a subsidiary, Telekomunikasi Indonesia
Internasional Australia Pty. Ltd. (“Telkom Australia”). Telkom Australia will engage in
providing telecommunication services and IT-based services.
(c) GSD
Based on notarial deed No. 71 of Kartono, S.H. dated December 27, 2011 which was
approved by the MoJHR through Decision Letter No. AHU-05281.AH.01.01/2012 dated
February 1, 2012, GSD established a subsidiary PT Telkom Landmark Tower (“TLT”), with
Yayasan Kesehatan (“Yakes”), a related party of the Company, with 55% ownership. TLT is
engaged in property development and management.
Based on notarial deed No. 48 dated February 7, 2012 of Sri Ahyani, S.H. which was
approved by the MoJHR in his Letter No. AHU-22272.AH.01.01/2012 dated April 27, 2012,
GSD established a subsidiary PT Graha Yasa Selaras (“GYS”), with Yakes, a related party of
the Company, with 51% ownership. GYS is engaged in tourism business.
(d) Telkom Akses
On November 26, 2012, based on notarial deed No. 20 dated November 26, 2012 of Siti
Safarijah, S.H. which was approved by the MoJHR in his Letter No. AHU60691.AH.01.01/2012 dated November 28, 2012, the Company established a subsidiary,
PT Telkom Akses (“Telkom Akses”), with 100% ownership. Telkom Akses will engage in
providing construction service and trade in the field of telecommunication.
15
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(e) Sigma
On June 29, 2012, based on notarial deed No. 3 of Utiek R. Abdurachman, S.H., MLI, MKn.
dated August 13, 2012, Sigma entered into a Sales Purchase Agreement to purchase
150,000 of PT Sigma Solusi Integrasi (“SSI”)’s shares or the equivalent of 30% of SSI’s total
ownership, with a transaction value of Rp26 billion from Marina Budiman, a non-controlling
interest. On July 19, 2012, Sigma settled the transaction. The difference between acquisition
cost and the carrying amount of the interests acquired amounting Rp22 billion is recorded as
“Difference due to acquisition of non-controlling interest in subsidiaries” in the equity account
of the consolidated statements of financial positions.
On August 15, 2012, based on notarial deed of Ny. Bomantari Julianto, S.H. dated
August 15, 2012, Sigma entered into a Conditional Sales Purchase Agreement with
PT Bina Data Mandiri (“BDM”) to purchase a Data Center Business, with a transaction value
of Rp230 billion from BDM. Based on closing agreement dated November 30, 2012, the
identifiable assets arising from the acquisition comprised of land, buildings, machine and
equipment with total fair value amounting to Rp150 billion and intangible assets included
customer contracts and backlog with fair value amounting to Rp3 billion. The acquisition was
resulted in goodwill amounting to Rp77 billion.
On September 17, 2012, based on notarial deed No. 10 of Utiek R. Abdurachman, SH., MLI.,
MKn. dated September 17, 2012, Sigma’s stockholders agreed to liquidate its subsidiary
called PT Sigma Karya Sempurna (“SKS”), effective from September 17, 2012. The
liquidation constitute as a process of internal restructuring of Sigma Group’s business. As of
the issuance date of the consolidated financial statements, the District Court’s decision of the
liquidation request is still in process.
On January 17, 2013, Sigma signed a share sale and transfer and loan assignment
agreement with Landeskreditbank Baden-Wuttemberg-Forderbank (“L-Bank”), and Step
Stuttgarter Engineering Park Gmbh. (“STEP”) as PT German Center Indonesia’s (“GCI”)
stockholders. Based on that agreement, Sigma agreed to buy all the shares of GCI owned by
L-Bank and STEP and take over L-Bank’s stockholders’ loan at a purchasing price of
US$17.8 million (equivalent to Rp170 billion). The closing of this transaction will be on April 1,
2013 subject to change with the written consent of all parties.
(f) Infomedia
On October 24, 2012, based on notarial deed No. 15 of Zulkifli Harahap, S.H. dated
October 24, 2012 which was approved by the MoJHR through Decision Letter No. AHU55715.AH.01.01/2012 dated October 30, 2012, Infomedia established a subsidiary called
PT Infomedia Solusi Humanika (“ISH”) with 100% ownership. ISH will engage in the services
for distribution and supply of labor.
16
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
1. GENERAL (continued)
d. Subsidiaries (continued)
(f) Infomedia (continued)
On December 17, 2012, based on notarial deed No. 231 of M. Kholid Artha, SH. dated
December 17, 2012, Infomedia purchased 1,778 and 1,777, shares of Balebat, a subsidiary
of Infomedia, or the equivalent of 15.73% and 15.73%, respectively, of Balebat’s total
ownership, with a transaction value of Rp4.4 billion and Rp4.4 billion, respectively, from Zikra
Lukman and Siti Chadijah, non-controlling interests. The difference between acquisition cost
and the carrying amount of the interests acquired amounting to Rp1 billion is recorded as
“Difference due to acquisition of non-controlling interest in subsidiaries” in the equity account
of the consolidated statements of financial position.
e. Authorization of the consolidated financial statements
The consolidated financial statements were prepared and approved to be issued by the Board of
Directors on April 26, 2013.
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The consolidated financial statements of the Company and subsidiaries have been prepared in
accordance with Indonesian Financial Accounting Standards (“Pernyataan Standar Akuntansi
Keuangan” or “PSAK”) and Regulation No. VIII.G.7 of the Capital Market and Financial Institution
Supervisory Agency (“Bapepam-LK”) regarding the Presentations and Disclosures of Financial
Statements of Issuers or Public Companies, enclosed in the decision letter KEP- 347/BL/2012.
a. Basis of preparation of financial statements
The consolidated financial statements, except for the consolidated statements of cash flows, are
prepared on the accrual basis. The measurement basis used is historical cost, except for certain
accounts which are measured using the basis mentioned in the relevant notes herein.
The consolidated statements of cash flows are prepared using the direct method and present the
changes in cash and cash equivalents from operating, investing and financing activities.
Figures in the consolidated financial statements are presented and rounded to billions of
Indonesian Rupiah (“Rp”), unless otherwise stated.
Changes to the statements of financial accounting standards (PSAKs) and interpretations
of statements of financial accounting standards (“Interpretasi Standar Akuntansi
Keuangan” or “ISAKs”)
On January 1, 2013, the Company and subsidiaries adopted new and revised PSAKs and ISAKs
which were effective in 2013. Changes to the Company and subsidiaries’ accounting policies
have been made as required in accordance with the transitional provisions in the respective
standards and interpretations.
17
T hes e cons olidated financial s tatements are originally iss ued in Indones ian language.
PERUSAHAAN PERSEROAN (PERSERO)
PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS OF MARCH 31, 2013 (UNAUDITED) AND FOR THREE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 (AUDITED) AND
FOR THREE MONTHS PERIOD ENDED MARCH 31, 2012 (UNAUDITED)
(Figures in tables are presented in billions of Rupiah, unless otherwise stated)
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
a. Basis of preparation of financial statements (continued)
The adoption of these new/revised standards and interpretations had no material effect to the
consolidated financial statements’ disclosure and presentation:
• PSAK 38, “Entities Under Common Control Business Combination”
• PSAK 60 (Revised 2010), “Financial Instruments: Disclosures”.
b. Principles of consolidation
The consolidated financial statements include the assets and liabilities of the Company and
subsidiaries in which the Company, directly or indirectly has ownership of more than half of the
voting power and has the ability to govern the financial and operating policies of the entity unless,
in exceptional circumstances, it can be clearly demonstrated that such ownership does not
constitute control, or the Company has the ability to control the entity, even though the ownership
is less than or equal to half of the voting power. Subsidiaries are consolidated from the date on
which effective control is obtained and are no longer consolidated from the date control ceases.
Non-controlling interest represents the portion of the profit and loss and net assets of the
subsidiaries not attributable, directly or indirectly, to the Company. Profit or loss and each
component of other comprehensive income are attributed to the owners of the Company and to
the non-controlling interests proportionally in accordance with its ownership in the subsidiaries.
Non-controlling interests are presented under the equity section in the consolidated statement of
financial position, separately from the owners of the Company’s equity. In the consolidated
statement of compherensive income, total profit or loss and total comprehensive income that can
be attributed to the owners of the Company and to the non-controlling interests are presented
separately, and not presented as income or expense.
Intercompany balances and transactions have been eliminated in the consolidated financial
statements.
c. Transactions with related parties
The Company and subsidiaries have transactions with related parties. The definition of related
parties used is in accordance with the Bapepam-LK’s Regulation No. VIII.G.7 regarding the
Presentations and Disclosures of Financial Statements of Issuers or Public companies, enclosed
in the decision letter No. KEP-347/BL/2012. The party which is considered as a related party is a
person or entity that is related to t